Tweedy Browne

Tweedy Browne

Last Update: 02-10-2016
Related: Tweedy Browne Global Value

Number of Stocks: 49
Number of New Stocks: 0

Total Value: $3,405 Mil
Q/Q Turnover: 1%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Tweedy Browne Watch

  • Tweedy Browne Fund 1st Quarter 2016 Commentary

    High equity valuations combined with increasing macroeconomic worries, not the least of which is the sense that monetary largesse may have run its course, continued to roil global equity markets in the first quarter. After a turbulent start to the New Year similar to that faced late last summer, equity markets rather quickly regained their composure to finish the second half of the quarter with a flourish, recouping much of the losses they suffered in the first half of the quarter. With the exception of the Wordwide High Dividend Yield Value Fund, which modestly underperformed its benchmark over the last three months, our remaining three Funds all outperformed their benchmarks in the first quarter, which led to an index beating result, albeit negative, over the last fiscal year in our two global value funds.

      


  • Tweedy Browne Global Value Invests in Bank of New York Mellon

    Tweedy Browne Company LLC, a successor to Tweedy & Co., was first established by Forrest Birchard Tweedy in 1920 as a dealer in closely held and inactively traded securities. The firm’s 96-year history is grounded in undervalued securities, first as a market maker, then as an investor and investment advisor. The firm takes a value investing approach that focuses on long term investments very similar to Joel Greenblatt (Trades, Portfolio), Seth Klarman (Trades, Portfolio) and the founder of value investing Benjamin Graham.


    During the first quarter, the Tweedy Browne (Trades, Portfolio) Global Value Fund purchased 1,315,780 shares of Bank of New York Mellon Corp. (NYSE:BK).

      


  • Tweedy Browne Global Value Buys 5 New Stocks in Q1

    Tweedy Browne (Trades, Portfolio) Global Value, an outperforming value fund founded in 1993, updated its first quarter portfolio changes this week, revealing five new stock purchases.


    Tweedy Browne (Trades, Portfolio) purchased two stocks from Hong Kong, one of its smallest country allocations at fourth quarter end and one stock from Germany, one of its larger country allocations. Managers’ purchase of Bank of New York Mellon Corp. (NYSE:BK), the largest new position, slightly expanded the fund’s weighting in its largest sector, financials. Finally, it purchased Avent Inc., a U.S. computer hardware company.

      


  • Tweedy Browne Global Value Adds Shares of AGCO

    Tweedy Browne Company LLC, a successor to Tweedy & Co., was first established by Forrest Birchard Tweedy in 1920 as a dealer in closely held and inactively traded securities. The firm’s 96-year history is grounded in undervalued securities, first as a market maker, then as an investor and investment advisor. The firm takes an investment approach similar to Benjamin Graham, who personally mentored one of the luckiest and most successful investors of all time, Warren Buffett (Trades, Portfolio).


    In the first quarter of 2016, the Tweedy Browne (Trades, Portfolio) Global Value Fund added 256,998 shares of AGCO Corp. (NYSE:AGCO).

      


  • Tweedy Browne Trims Stakes in Financial Stocks

    Guru investment advisory and fund management firm Tweedy Browne (Trades, Portfolio) neither bought nor sold stakes in the fourth quarter and added to only a handful. Nearly all of its activity involved reductions of stakes in its portfolio.


    Tweedy Browne (Trades, Portfolio) slashed its stake in Torchmark Corp. (NYSE:TMK), a McKinney, Texas-based financial services holding company, by 82% with the sale of 1,139,729 shares for an average price of $58.61 per share. The transaction had a -1.91% impact on Tweedy Browne (Trades, Portfolio)’s portfolio.

      


  • Tweedy Browne Reopens Global Value Fund II

    Re-opening of Tweedy Browne (Trades, Portfolio) Global Value Fund II



    The Tweedy Browne (Trades, Portfolio) Global Value Fund II – Currency Unhedged will reopen to new investors on February 1, 2016. As you will recall, the Fund was closed to new investors back in August of 2014, as it had become difficult to invest new subscriptions in the face of rising equity valuations. More recently, flows have become more manageable, and we now believe that the addition of new assets can be managed effectively, without risk of diluting returns to existing shareholders. This is especially true given the enhanced volatility in global equity markets of late which has begun to stimulate new idea flow.

      


  • Tweedy Browne Fund 4th Quarter Commentary

    The Tweedy, Browne Funds produced modestly positive returns in the 4th quarter of 2015, capping off what was in general a rather difficult year for value investors. Each Fund’s cash reserves, low weightings in Japan and the U.S., oil & gas component, and overall value exposure weighed on relative returns. The spread between the value and growth components of the benchmark indices widened considerably in favor of growth during the year. In fact, the so called “FANG” stocks (Facebook, Amazon, Netflix, and Google), which, in our view, trade at exorbitant multiples of earnings power, accounted for about half the return of the MSCI World Index when measured in local currencies. While this kind of divergence is not at all uncommon in the later stages of a bull market as equity valuations become untethered from underlying intrinsic value, it’s hard to recall a previous period when the so called “smart money” seemed so dumb.


    It is not surprising, as market volatility increased in the second half of the year, that the food, beverage, and tobacco component of our Fund portfolios produced the strongest returns. This included strong results for the quarter in Unilever, Philip Morris International (NYSE:PM), and Heineken, with the latter’s strength largely related to the derivative impact of the proposed InBev/SAB Miller deal on beer company valuations. The healthcare segment of the portfolio also stood out, with solid results in Baxalta (NYSE:BXLT), the spinoff from Baxter, which announced shortly after quarter end that it would be acquired by Shire (NASDAQ:SHPG) at a substantial premium. Its former parent, Baxter International, Johnson & Johnson, GlaxoSmithKline, and Roche also produced very nice returns during the quarter. We also had very solid returns in several of our insurance holdings including SCOR, Zurich Insurance Group and Munich Re.

      


  • Tweedy Browne Global Value Raises Stake Sevenfold

    Tweedy Browne (Trades, Portfolio) Global Value septupled its holding in E-L Financial Corp. Ltd. (TSX:ELF) in the fourth quarter, adding 79,300 shares to its stake.


    Tweedy Browne (Trades, Portfolio) Global Value seeks long-term growth of capital by investing throughout the world in a diversified portfolio consisting primarily of non-U.S. marketable equity securities. Tweedy Browne (Trades, Portfolio) Global Value has a policy of purchasing U.S. securities only when there is an attractive opportunity at hand.

      


  • Tweedy Browne Global Value Adds to Stakes in 4th Quarter

    Nearly all of Tweedy Browne (Trades, Portfolio) Global Value Fund’s fourth-quarter activity involved additions to existing stakes.


    The most noteworthy of those transactions was the Fund’s increase of nearly 721% to its stake in E-L Financial Corp. Ltd. (TSX:ELF), a Toronto-based life insurance and financial services company. The Fund purchased 79,300 shares for an average price of C$688.37 (about $485.95 in U.S. currency) per share. The acquisition had a 0.6% impact on the Fund’s portfolio.

      


  • Tweedy Browne Cuts Alphabet, Union Pacific and Philip Morris

    Tweedy Browne cut many of its stakes below 0.2% in the third quarter. It is an investment partnership owned by its four managing directors – William H. Browne, John D. Spears, Thomas H. Shrager and Robert Q. Wyckoff Jr.


    3M Co. (MMM)

      


  • Tweedy Browne Comments on Standard Chartered Bank

    We have also made an investment (in multiple lot purchases over the last two years) in Standard Chartered Bank (LSE:STAN), a UK-headquartered but largely emerging-market-dependent bank that again in our view was conservatively financed by deposits well in excess of loans, and has, in our opinion, one of the best banking networks across Asia, the Middle East, Africa and other emerging markets. Unlike our other Asian bank holdings, Standard Chartered has incurred above average loan losses and recently replaced senior management and undertaken multiple steps to address what we consider to be “fixable” problems. While this process may, and usually does, take longer than expected, we are optimistic that the bank will be able to get through this difficult period, and ultimately emerge stronger and more profitable. As you can imagine, given the uncertainty around China’s future growth (as evidenced by the recent devaluation of the yuan), these bank investments have not been getting the votes from “Mr. Market” over the near term; however, over the longer term, China and other parts of Asia should, in our opinion, continue to grow at rates in excess of the growth rates found in most of the Western world, and we believe these banks should remain significant beneficiaries of that growth.

    from Tweedy Browne (Trades, Portfolio) Investment Advisers' semi-annual report shareholder letter.  


  • Tweedy Browne Investment Advisers' Semi-Annual Letter to Shareholders

    Slowing growth in China, the world’s second largest economy, coupled with uncertainty surrounding the prospective normalization of interest rates in the United States sent tremors through global equity markets over the last several months. After a rather short lived and furious correction in late August and early September, global equity markets regained their footing and, as we write, have taken back much of the ground they lost as summer came to an end.


    For value investors such as ourselves, it remained business as usual through this turbulence, although we would admit to a certain counterintuitive satisfaction as equity markets began their long overdue retreat. After six and a half years of relatively smooth sailing, setting aside a brief hiccup in 2011, it had become quite a challenging environment for value investors. Bargains had become increasingly scarce and many of our existing holdings were trading at or near our estimates of their intrinsic value – consequently, we were selling and trimming back a number of those positions. As a result, cash reserves had increased and our returns were somewhat diluted while the bull markets and their associated benchmark indices raged on. We were able to take some advantage of the markets’ downside volatility in late summer. However, it did not last long enough, nor was it steep enough, for us to make significant headway in putting our cash reserves to work.

      


  • Tweedy Browne Invests in IBM, General Electric in 3rd Quarter

    Using research methodology derived from the work of Benjamin Graham, Tweedy Browne (Trades, Portfolio)’s most significant third-quarter trading activity involved the acquisition of new stakes and the sale of portions of existing stakes.


    Tweedy Browne (Trades, Portfolio)’s top third-quarter transactions were new buys – MRC Global Inc. (NYSE:MRC), International Business Machines Corp. (NYSE:IBM) and General Electric Co. (NYSE:GE).

      


  • Several Gurus Take New Stakes in IBM

    Gurus


    It was a busy quarter for IBM (NYSE:IBM) when it comes to guru purchases. Warren Buffett (Trades, Portfolio) continued to add to his IBM position and now owns 8.35% of the company. Also, Edward Lampert, Bruce Berkowitz (Trades, Portfolio), and Tweedy Browne (Trades, Portfolio) all made sizeable initial investments in the company this past quarter. According to GuruFocus, Lampert took a 0.05% position, Berkowitz has 0.08% and Tweedy Browne (Trades, Portfolio) holds 0.03%.

      


  • How to Pick Value Stocks

    I find it ironic that more research is being done today than at any point in time in the past, yet a lot of value investors are failing to beat the market.


    Ironically, the mountain of articles on popular investing websites just aren't helping. Part of the problem might be due to the "more brains" problem Graham cited years ago. Since everybody on Wall Street is so smart, all those brains ultimately cancel each other out.

      


  • Tweedy, Browne Net Net Stock Darling Shinko Shoji Now Up 49%

    Tweedy, Brown net net darling Shinko Shoji is now up 49% from Net Net Hunter's initial review of the company in July of 2014.

    Last month it came out that legendary value investment firm Tweedy, Browne had added the electronics manufacturer to its portfolio. At the time of the disclosure, Tweedy Browne (Trades, Portfolio) owned 1.77% of the firm's outstanding shares.  


  • Tweedy, Browne Global Value Fund 3Q 2015 Letter to Shareholders

    The third quarter in global equity markets was characterized by a dramatic increase in equity market volatility, seemingly driven in large part by concerns about slowing growth in China, the devaluation of the yuan, volatile oil prices, and the prospect for an increase in U.S. interest rates. While the Tweedy, Browne Funds finished the quarter in the red, all, with the exception of the Worldwide High Dividend Yield Value Fund, bested their respective benchmark indices, with our two international Funds, Global Value and Global Value II, doing so by a considerable margin. Near quarter-end, equity markets began to rebound, and as we write, they have regained much of the ground that was lost in August and early September, and the same holds true for the Tweedy, Browne Funds.


    The Funds do not impose any front-end or deferred sales charges. However, the Global Value Fund, Global Value Fund II – Currency Unhedged and Worldwide High Dividend Yield Value Fund impose a 2% redemption fee on redemption proceeds for redemptions or exchanges made less than 15 days after purchase. Performance data does not reflect the deduction of the redemption fee, and, if reflected, the redemption fee would reduce any performance data quoted for periods of 14 days or less. The expense ratios shown above reflect the inclusion of acquired fund fees and expenses (i.e., the fees and expenses attributable to investing cash balances in money market funds) and may differ from those shown in the Funds' financial statements.

      


  • Tweedy Browne Third Quarter Commentary

    Tweedy Browne Letter To Shareholders:


    The third quarter in global equity markets was characterized by a dramatic increase in equity market volatility, seemingly driven in large part by concerns about slowing growth in China, the devaluation of the yuan, volatile oil prices, and the prospect for an increase in U.S. interest rates. While the Tweedy Browne (Trades, Portfolio) Funds finished the quarter in the red, all, with the exception of the Worldwide High Dividend Yield Value Fund, bested their respective benchmark indices, with our two international Funds, Global Value and Global Value II, doing so by a considerable margin. Near quarter-end, equity markets began to rebound, and as we write, they have regained much of the ground that was lost in August and early September, and the same holds true for the Tweedy Browne (Trades, Portfolio) Funds.

      


  • Despite the Last Negative Quarter, IBM Is Expanding Its Business

    International Business Machines Corp. (IBM) creates business value for clients and solves business problems through integrated solutions that leverage information technology and knowledge of business processes. The company's operations consist of five business segments namely Global Technology Services and Global Business Services, which the company collectively calls Global Services, and Software, Systems and Technology and Global Financing.


    For IBM the third quarter was the 14th straight quarter of declining sales; despite falling sales, the company still plans to invest heavily in Cloud computing, data analytics and other areas where it sees growth and believes the aggressive investments of today would pay off in the future because, with the rise of Cloud computing, corporations are increasingly buying computing resources and software on demand instead of buying their own data center gear.

      


  • 3M Misses Revenue Estimate and Announces Layoffs

    Industrial stock, 3M (NYSE:MMM) recently reported its earnings results for the third quarter of 2015. For the quarter the firm missed analysts’ average revenue estimate by $140 million while also reporting a restructuring that would cut 1,500 jobs. As the industrial sector continues to see reduced revenue in tandem with declining energy sector profits, 3M is yet another large industrial corporation lagging in revenue growth and requiring expense reductions through employee layoffs.


    For the third quarter 3M reported revenue of $7.71 billion resulting in earnings per share of $2.05. While up from the previous quarter, 3M posted another comparable quarter revenue decline with revenue down 5% following a decrease of 6% in the second quarter. Earnings per share continued to climb as sales costs decreased and tax provisions declined. EPS for 3M was up 4% from the comparable quarter and followed a comparable quarter increase in the second quarter of 6%.

      


  • Tweedy Browne Global Value Adds to Stake in GlaxoSmithKline

    Tweedy Browne (Trades, Portfolio) Global Value maintains a diversified portfolio of mostly non-U.S.-based stakes in pursuit of long-term capital growth. Its recent investment track record includes double-digits returns in 2012 and 2013.


    Tweedy Browne (Trades, Portfolio) Global Value’s most noteworthy third-quarter transactions involved additions to 14 existing stakes. Some of the fund’s transactions were modest, but others were large.

      


  • Activist Hedge Fund Manager Dan Loeb Increases Position in Leading Biotech Company

    Daniel Loeb’s Third Point LLC disclosed Wednesday that he increased his stake in Baxter International Inc. (NYSE:BAX), a medical equipment and supplies company, by purchasing an additional 11.97 million shares at an average price of $32.69 per share.


    After the transaction, the trader held 53.85 million shares. The stock has dropped 15.48% over the past year and traded around $32.85 per share by Wednesday closing, which was near its May price.

      


  • Tweedy Browne Reduces 33 Stakes in Portfolio

    For nearly a century, Tweedy Browne (Trades, Portfolio) has been advising investors and managing funds in accord with the principles of Benjamin Graham. Last year, Tweedy Browne (Trades, Portfolio)’s strategy produced better than a 4% return. In the two preceding years, the returns were in double digits – 22.68% in 2013 and 15.45% in 2012.


    Tweedy Browne (Trades, Portfolio) reduced its position in 33 companies in the second quarter. The most significant reduction may have been Tweedy Browne (Trades, Portfolio)’s sale of 265,174 shares of Emerson Electric Co. (NYSE:EMR), an electrical equipment company based in Ferguson, Missouri, for an average price of $58.72 per share. The transaction had a -0.41% impact on Tweedy Browne (Trades, Portfolio)’s portfolio.

      


  • Tweedy Browne Q2 Commentary

    Concerns about Greece’s possible exit from the eurozone and a sharply correcting Chinese equity market appeared to drive global equity indices lower around quarter-end, forcing benchmark indices (in local currency) and in turn, our Funds’ returns into flat to marginally negative territory for the quarter. All sectors and most industry groups finished the quarter in the red. This increase in equity market volatility, which occurred during the quarter, continues as we write this update, and we are hopeful this portends pricing opportunities for our Funds in the weeks and months ahead.


      



  • Tweedy Browne Comments on Hyundai Motor Co And Kia Motors Corp

    Two of our more recent purchases, Hyundai Motor (XKRX:005380) and Kia (XKRX:000270), belong to the same “chaebol” in South Korea, and both have demonstrated an ability to grow their intrinsic values at attractive rates over the longer term. They have become significantly more competitive against their Japanese rivals in recent years as quality and customer satisfaction ratings have risen at both companies. At purchase, both companies were trading at discounts to book value, less than 10X earnings and at substantial discounts to our estimates of their intrinsic values.

    From Tweedy Browne (Trades, Portfolio)’s 2nd Quarter 2015 Commentary.  


  • Tweedy Browne Comments on TNT Express NV

    We also had a very nice return in TNT Express (XAMS:TNTE) in our two international Funds, Global Value and Global Value II, after Federal Express announced that it would be acquiring the company. Just after first quarter end, Federal Express announced that it would be acquiring TNT Express, the Dutch parcel company, in an all cash offer of eight euros/share, or a 37% and 39% premium over our cost in the shares. As you will recall, we purchased TNT a couple of years back, after its previously proposed merger with UPS fell apart when European regulators failed to approve the deal, feeling it would be anti-competitive. We believe there should be no competitive issues with Federal Express this time, as its footprint in Europe is much smaller than that of UPS. Federal Express was able to use a strong currency (the US dollar), and extremely low-cost debt to secure a deal that we believe is attractive for all parties to the transaction.

    From Tweedy Browne (Trades, Portfolio)’s 2nd Quarter 2015 Commentary.  


  • Tweedy, Browne 2nd Quarter 2015 Commentary

    Concerns about Greece’s possible exit from the eurozone and a sharply correcting Chinese equity market appeared to drive global equity indices lower around quarter-end, forcing benchmark indices (in local currency) and in turn, our Funds’ returns into flat to marginally negative territory for the quarter. All sectors and most industry groups finished the quarter in the red. This increase in equity market volatility, which occurred during the quarter, continues as we write this update, and we are hopeful this portends pricing opportunities for our Funds in the weeks and months ahead.


    Please note that the individual companies discussed herein represent holdings in our Funds, but are not necessarily held in all four of our Funds. Please refer to footnotes on page 16 for the Funds’ respective holdings in each of these companies.

      


  • Tweedy Browne Global Value Adds to Eight Stakes in Portfolio

    The Tweedy Browne (Trades, Portfolio) Global Value Fund pursues long-term growth through a diverse portfolio consisting primarily of non-U.S. investments, and the Fund's second-quarter additions were definitely diverse.


    In the second quarter, Tweedy Browne (Trades, Portfolio) Global Value added to eight existing stakes in its portfolio, including its most valuable stake – Standard Chartered PLC (LSE:STAN), a London-based banking and financial services company. Tweedy Browne (Trades, Portfolio) Global Value added 1,611,422 shares to its stake for an average price of £10.59 (approximately $16.43 in American currency) per share. The transaction had a 0.37% impact on Tweedy Browne (Trades, Portfolio)’s portfolio.

      


  • Tweedy Browne Global Value Makes Most New Buys In Three Years

    Tweedy Browne (Trades, Portfolio) Global Value added six new stakes to its portfolio in the second quarter, the most new buys the firm has made in a single quarter in three years. Tweedy Browne (Trades, Portfolio)’s return was 1.51% in 2014, 19.62% in 2013 and 18.39% in 2012.


    The acquisition that had the greatest impact on the firm’s portfolio was its purchase of 823,176 shares of Hyundai Motor Co (XKRX:005380), an automotive manufacturer based in Seoul, South Korea, for an average price of ₩155927 (about $136.95 in American currency) per share. The purchase had a 1.46% impact on Tweedy Browne (Trades, Portfolio)’s portfolio.

      


  • An Interview With Managing Director Of Tweedy Browne John Spears

    John Spears, managing director at Tweedy Browne, recently gave a presentation at Ivey Business School. Here's the video:

      


  • Tweedy Browne Investment Adviser’s Annual Letter to Shareholders 2015

    “We live in interesting times” is a frequently used phrase believed to derive from an earlier expression, “may you live in interesting times,” the origin of which is murky. In either version the intent is to convey a sense of an uncertain, unpleasant world. While there is little doubt we live in interesting times, we hesitated using this phrase in our letter, concerned that the expression carries with it a degree of alarm that we don’t necessarily share. We believe a more apt description of where we are today is that “we live in hard-to-figure-out times.” And yet, many global equity markets have continued marching onwards and upwards.

      


  • Tweedy Browne's Stocks With High Growing Yield

    Tweedy Browne is an investment partnership owned by its four managing directors. Investments are focused in developed markets, and where practicable, perceived foreign currency exposure is hedged back into the U.S. dollar. The fund is a pure no-load fund with no 12b-1 provisions. The fund is managed by the team of Tweedy Browne (Trades, Portfolio) Partners.


    The portfolio is composed of 47 stocks. Total value of the portfolio is $3.705 Mil and the following three stocks are the companies that have the highest yield and is growing more than other stocks held by the Guru.

      


  • Tweedy Browne Fund First Quarter 2015 Commentary

    1st Quarter 2015


    All four of the Tweedy, Browne Funds made financial progress in the first quarter as global equities, particularly European equities, surged forward after the year-end turbulence associated with the collapse in oil prices. However, it was a challenging quarter for relative returns, and bargain hunting remains severely constrained by equity valuations that are now well above average.

      


  • Tweedy Browne Increases Stakes in HAL and COP During 1Q2015

    During 1Q2015, Tweedy Browne (Trades, Portfolio) recently increased his stakes in ConocoPhillips (NYSE:COP) and Haliburton Co (NYSE:HAL), according to GuruFocus Real Time Picks.


    ConocoPhillips (NYSE:COP)

      


  • Guru Stocks at 52-Week Lows: AXP, ERIC, KOF, KORS, PNR

    According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows.


    American Express Co (NYSE:AXP) Reached the 52-Week Low of $77.99

      


  • Top Weighted Stocks in Tweedy Browne Global Value Fund's Portfolio

    Tweedy Browne (Trades, Portfolio) Global Value Fund focuses on investing in non-U.S. companies that have long-term growth. The Fund also uses intrinsic value to determine a company's collateral value, which was acquired through the late Benjamin Graham.


    The Fund currently owns 96 positions, valued around $6.64 billion and has a 3% quarter-over-quarter turnover. Here are the top most heavily weighted international stocks in Tweedy's Global portfolio.

      


  • Tweedy Browne Sells Three Stakes, Buys Three New Ones

    The Tweedy Browne (Trades, Portfolio) Global Value Fund, an investment advisory and fund management firm dedicated to the principles of Benjamin Graham and David Dodd, has a quarter-over-quarter turnover rate of 3% – which, in a portfolio that has nearly 100 stocks, means an approximate turnover of three stocks in a quarter.


    And that is precisely what Tweedy Browne (Trades, Portfolio) did in the first quarter of 2015 – it sold its stakes in three companies and bought stakes in three new ones.

      


  • Tweedy Browne Global Fund Finds Opportunities in Asia

    The Tweedy Browne (Trades, Portfolio) Global Fund saw opportunities in the Asia region, buying two Hong Kong stocks and one South Korean stock in Q1 2015.


    The fund invests in undervalued foreign equities, and occasionally U.S. stocks if opportunities appear attractive. According to the fund’s fact sheet, Europe is the most heavily represented region in the portfolio at 54% of total assets.

      


  • Can This Pig Farmer Teach You Value Investing?

    A pig farmer isn't the first place value investors look to improve their craft, but the returns this one achieved with such a simple strategy will amaze you.



    In Fortune Magazine back in 1978, John Train wrote the legendary story of a man known only as “Mr. Womack,” a rice farmer and hog raiser who never had a market loss in 40 years of investing. His sound judgment and rational decision making became a bible for those interested in value investing.

      


  • Torchmark´s Dividend Hike Does Not Justify Its Market Price

    In this article, let's take a look at Torchmark Corporation (NYSE:TMK), a $6.95 billion market cap company, which provides various life and health insurance products, and annuities in the United States, Canada, and New Zealand.


    Dividend Hike

      


  • Tweedy Browne's Low PE Stocks

    Tweedy Browne is an investment partnership owned by its four Managing Directors, William H. Browne, John D. Spears, Thomas H. Shrager, and Robert Q. Wyckoff, Jr. The operations of Tweedy Browne are managed by its Management Committee consisting of Christopher H. Browne, William H. Browne and John D. Spears. This investment partnership has been recognized by Warren Buffett (Trades, Portfolio) as Graham-Doddsville Superinvestors. The Firm has been in the investment business for close to 90 years. Benjamin Graham, through his investment in Graham-Newman Corp., was one of Tweedy's brokerage clients in the 1930s and 1940s.


    Web Page: http://www.tweedy.com/

      


  • Three Gurus Invest in Chilean Conglomerate in Fourth Quarter

    Three gurus have made large investments recently in Antofagasta PLC (ANTO.UK). Antofagasta may not be a household word in America, but it is one of the most important conglomerates in Chile. It has offices in London as well as Chile and is listed on the London Stock Exchange, where it is the 33rd-largest company.


    Antofagasta is one of the world’s leading copper producers, operating four copper mines in Chile, which has a rich deposit of copper in its northern desert. It also operates an extensive railroad network, and it is involved in banking and regional water distribution among other things. Nearly two-thirds of the company is owned by Chile’s prominent Luksic family.

      


  • Inside One of Value Investing’s Greatest Minds: Chris Browne

    Beating the stock market is actually quite simple, so why do most investors find market-beating returns so elusive?


    The success of value strategies has been well documented for at least the past 60 years. It’s no secret, now well into the 2010s, that beating the market is as simple as putting together a diversified portfolio of value stocks and rotating those stocks when they appreciate back up to fair value. It’s baffling, then, why so few people actually take advantage of this very simple strategy, despite the evidence.

      


  • Tweedy Browne Global Value Q4 Portfolio Updates

    The Tweedy Browne (Trades, Portfolio) Global Value fund follows the Ben Graham value-oriented approach, and invests primarily in foreign securities, though U.S. stocks are included on a limited basis if opportunities are attractive.


    As of Dec. 31, the fund had about $8.7 billion in assets under management. According to the fourth quarter shareholder letter, the consumer, financials, and materials sectors held up the best during the quarter. Oil and gas, banks, and machinery companies underperformed in the quarter.

      


  • Tweedy Browne Fund Q4 2014 Commentary

    Global and international equity market indices (in local currency) moved higher in the 4th quarter despite increasing equity market volatility caused in part by the continued rapid decline in oil prices. With respect to relative performance comparisons, it was a difficult quarter for the Tweedy, Browne Funds largely due to their underweightings in US equities and their overweightings in energy related holdings. The absolute and relative results since inception for all of our Funds remain strong.


    The Funds do not impose any front-end or deferred sales charges. However, the Global Value Fund, Global Value Fund II – Currency Unhedged and Worldwide High Dividend Yield Value Fund impose a 2% redemption fee on redemption proceeds for redemptions or exchanges made within 60 days of purchase. Performance data does not reflect the deduction of the redemption fee, and, if reflected, the redemption fee would reduce the performance data quoted for periods of 60 days or less. The expense ratios shown above reflect the inclusion of acquired fund fees and expenses (i.e., the fees and expenses attributable to investing cash balances in money market funds) and may differ from those shown in the Funds' financial statements.

      


  • Guru Stocks at 52-Week Lows: VZ, T, IBM, RY, MCD

    According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows.


    Verizon Communications Inc Reached the 52-Week Low of $46.35

      


  • Weekly Guru Bargains Highlights: BSBR, BBVA, PBR.A, BBL, PKX

    According to GuruFocus updates, these stocks have declined the most since Gurus have bought.


    Banco Santander Brasil SA/Brazil (NYSE:BSBR): Down 23% Since Mario Gabelli (Trades, Portfolio) bought in the quarter ended on Sept. 30, 2014

      


  • Use this Critical Concept to Pick Better Value Stocks

    People fear risk to such an extent, they tend to make the bulk of their decisions based on trying not to lose— which is often the suboptimal strategy if your goal is to profit.


    Many of us fear downside without properly factoring in the upside. When driven by emotion or irrational forces, there is a natural tendency to avoid risk, consequently lowering the chance for success.

      


  • Guru Stocks at 52-Week Lows: GOOG, VZ, HSBC, SNY, TOT

    The prices of Google Inc (NASDAQ:GOOG) shares have declined to close to the 52-week low of $496.17, which is 19.2% off the 52-week high of $604.83. Google Inc is owned by 39 Gurus we are tracking. Among them, 13 have added to their positions during the past quarter. 18 reduced their positions.


    Google Inc was incorporated in California on September 4, 1998 and reincorporated in Delaware in August 2003. Google Inc has a market cap of $357.09 billion; its shares were traded at around $496.17 with a P/E ratio of 26.10 and P/S ratio of 5.00. Google Inc had an annual average earnings growth of 33.30% over the past 10 years. GuruFocus rated Google Inc the business predictability rank of 3-star.

      


  • Guru Stocks at 52-Week Lows: RDS.A, CVX, VZ, T, IBM

    Royal Dutch Shell PLC (NYSE:RDS.A) reached the 52-week low of $65.56


    The prices of Royal Dutch Shell PLC (NYSE:RDS.A) shares have declined to close to the 52-week low of $65.56, which is 21.9% off the 52-week high of $83.42. Royal Dutch Shell PLC is owned by 22 Gurus we are tracking. Among them, eight have added to their positions during the past quarter. 8 reduced their positions.

      


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